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House prices fall by 0.9% in June, says Nationwide

House prices fell by 0.9 per cent in June, taking prices 6.3 per cent lower than the same time last year, according to Nationwide’s house price survey.

But the lender points out that prices remain 4 per cent higher than two years ago.

Nationwide chief economist Fionnuala Earley says: “The pace of house price falls slowed significantly in June. House prices fell by 0.9 per cent during the month, less than half of the rate of the 2.5 per cent fall recorded in May.”

Nationwide says that house purchase transactions remain subdued across the UK.

Earley adds: “With house purchase transactions so far below their long term trend it seems unlikely that there will be any rapid turnaround in housing market fortunes in the coming months. However, as prices continue to fall affordability measures become more favourable for those in a well financed position to be able to buy.”


‘VCTs lower targets to pull in fees’

Hargreaves Lansdown investment manager Ben Yearsley claims a number of venture capital trusts are reducing the levels at which performance fees kick in to make them more achievable.

Briault gets a £528k payout

Former FSA retail markets managing director Clive Briault was given a £528,952 compensation payout after leaving the regulator following the Northern Rock debacle.


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